Mar 1, 2019

Apache Corporation Is Making The Right Moves

Apache Corporation will spend $2.4Bn in 2019 as upstream capital, lower than its previous forecast of $3Bn and down from $3.1Bn spent last year.

Image courtesy of Pixabay

The company hasn’t significantly reduced its production growth plans and continues to target output of 410,000-440,000 boe per day for 2019.

Apache Corporation expects to achieve cash flow neutrality at just $53 WTI in 2019 which will be a turnaround for Apache which has burned cash flows in a weak oil price environment. The company may generate free cash flows at higher prices, which it will likely return to shareholders as buybacks and dividends. Read full article at Seeking Alpha.